The global coiled tubing (CT) market is expected to reach USD 4.9
billion by 2025. Globally, declining oil production and increasing
number of exploration & production activities are anticipated to drive
the market growth in the next eight years. In addition, a shift in the
trend for developing unconventional oil blocks globally, will boost the
market demand.

Regulations in countries enhancing exploration & production activities
will be a supporting factor for the market growth. Favorable initiatives
by Chinese and the U.S. governments in the form of relaxed provision of
FDI, tax incentives, and other financial aids is estimated to back up
the industry growth. However, public concerns and several bans
concerning harmful impacts of the technology mainly in countries such as
South Africa, France, Tunisia, Romania, and Bulgaria are anticipated to
remain key challenges for the industry players over the next few years.

Well intervention is a major service provided by CT technology. the
service is carried out in to extend the life of a producing well by
improving its performance. Some of the well intervention service
includes well completion, well cleaning, and wireline. Sand clean out is
the most common well intervention application. It is a complex process
and requires pumping a fluid or gasses into the well.